Humanigen Inc (HGENQ)

[cowtown jay]

Here's something interesting, eb.

Humanigen published top line data (TLD) just after one year of initiating the LIVE-AIR trial.

https://ir.humanigen.com/English/news/news-details/2021/Humanigen-Reports-Positive-Phase-3Topline-Results-Demonstrating-That-Lenzilumab-Improves-Survival-Without-Need-for-Mechanical-Ventilation-in-Hospitalized-Patients-With-COVID-19/default.aspx

That was a wake up call that Pfizer and the PfDA faced the potential loss of billions in revenue, and in commercial support of FDA operations.

Prior to that, we had restructured from Kalobios to Humanigen, and also executed the recall of our loaned shares in November of 2015. But it wasn't until Humanigen proved their bona fides with the LIVE-AIR TLD that the SEC came to the FDA's defense.

Within months of Humanigen's TLD, the SEC filed charges against Murchinson (and indirectly against Dale, in my opinion) in August of 2021.

https://www.sec.gov/news/press-release/2021-156

"According to the SEC's order, from June 2016 through October 2017, the respondents provided erroneous order-marking information on hundreds of sale orders of their hedge fund client to the hedge fund's brokers, causing those brokers to mismark the hedge funds' sales as "long." The order finds that in providing the inaccurate information, the respondents also caused the hedge fund’s brokers to fail to borrow or locate shares prior to executing the sales. The order further finds that Murchinson and Bistricer caused the hedge fund to engage in dealer activity without registering with the SEC or being exempt from registration."

And the Admin Proceeding was filed as an SEC enforcement action, as usual.

https://www.sec.gov/files/litigation/admin/2021/34-92684.pdf

The charges were filed 5 years after the fact, and amount to bullshit. The SEC didn't dare to file an enforcement action as they should have. Instead, they filed a civil suit, which I only found out about when Agrippa posted an AI-generated notification in this regard.

"AgrippaAntinous
Jan 03, 2024 1:29 PM
$HGENQ interesting conversation with AI:

sec vs dale chappell et al and black horse. what is accusation

According to the web search results, the accusation is that Dale Chappell and his entities, Black Horse Capital LP, Black Horse Capital Master Fund Ltd, and Cheval Holdings Ltd, engaged in a fraudulent scheme to misappropriate millions of dollars from investors and manipulate the market for certain publicly traded securities12. The SEC filed a complaint against them in the U.S. District Court for the Eastern District of Pennsylvania on August 11, 2023, alleging violations of the antifraud provisions of the federal securities laws12. The case is currently pending in the U.S. Court of Appeals for the Third Circuit, where the defendants have appealed the district court’s order granting a preliminary injunction and freezing their assets13. The case is scheduled for oral argument on January 16, 2024."

https://stocktwits.com/AgrippaAntinous/message/556601076

I looked up the AI-generated reference.

"August 11, 2023 Opinion or Order Filing 1 APPLICATION AND ORDER FOR EXEMPTION FROM THE ELECTRONIC PUBLIC ACCESS FEES BY LI HUANG; THIS EXEMPTION IS VALID UNTIL 12/31/2023; THIS EXEMPTION MAY BE REVOKED AT THE DISCRETION OF THE COURT AT ANY TIME; A COPY OF THIS ORDER SHALL BE SENT TO PACER SERVICE CENTER. SIGNED BY CHIEF JUDGE JUAN R. SANCHEZ ON 8/11/23. 8/11/223 ENTERED & E-MAILED. COPY SENT TO PACER SERVICE CENTER. (fdc)"

https://dockets.justia.com/docket/pennsylvania/paedce/2:2023mc00115/612553

I noted that the petitioner, Li Huang (also spelled Liu Huang) apparently works for the NIH.

"Li Huang

Application and Data Manager at NIH/NICHD
Rockville, Maryland, United States Contact Info

74 followers 72 connections

https://www.linkedin.com/in/li-huang-ab95437

Dale's Appeal to the Third Circuit, which is largely sealed, was calendared for Jan 16th, and I see no change to that.

https://dockets.justia.com/docket/circuit-courts/ca3/23-2776

I think this Appeal is critical for us, since our assets were frozen.

I also think Dale prevailed in his Appeal, and that is why we see the disputes in the bankruptcy case have been worked out.

"TwongStocks
Jan 25, 2024 2:20 PM
$HGENQ Docket 64, 2nd revision to bid procedures.
document.epiq11.com/documen...
Seems the parties have worked out their issues. Per para 5, the US Trustee and UCC do not object to this revision. Taran does not consent or object. So as long as there are no more objections, the Court will likely finalize the bid procedures order."

https://stocktwits.com/TwongStocks/message/559238962

I remain highly confident that Humanigen will be able to initiate a new recall of their loaned shares. Management has not bowed to the superior firepower of the SEC, NIH, NIAID, and the FDA, and I look forward to our future.